Tizona Lands AbbVie Cancer R&D Deal As New CEO Takes Control
California-based Tizona has begun 2019 by installing a new CEO and winning a lucrative early-stage R&D pact with AbbVie aimed at commercializing cancer therapies targeting the immune system-suppressing enzyme CD39.
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Private Company Edition: Immunocore’s $130m round kicked off a series of $100m-plus venture capital deals, including financings for Xilio, Akouos and Pliant. Also, VC investment in cell and gene therapies surged in 2019 and MPM launched two funds with $126 for early cancer research.
Decreasing Humira’s ex-US sales guidance for the second time in three months caught significant attention, as AbbVie now expects 30% revenue erosion for its top-seller outside its home market.
Johnson & Johnson has solid growth drivers in pharmaceuticals, but still faces an overhang related to talc controversy; Bristol's call will be dominated by the just-announced Celgene acquisition; and AbbVie will face questions about its cancer plans after expensive failure with Rova-T.